UPDATE: KeyBanc Starts Global Net Lease (GNL) at Sector Weight

July 20, 2021 4:17 AM EDT
Get Alerts GNL Hot Sheet
Price: $13.40 +0.30%

Rating Summary:
    4 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 30 | New: 25
Join SI Premium – FREE
(Updated - July 20, 2021 4:26 AM EDT)

KeyBanc analyst Craig Mailman initiates coverage on Global Net Lease (NYSE: GNL) with a Sector Weight rating.

The analyst comments "We are initiating coverage of Global Net Lease, Inc. (NYSE: GNL) with a Sector Weight rating. GNL is an externally managed REIT that owns a global portfolio of triple net-leased office, industrial, and retail assets. Following a successful 2020 with minimal impacts from COVID-19 due to strong underlying portfolio credit, the Company continues to execute on its external growth initiative: accretively acquiring assets at premium yields with strong underlying credit, inplace escalators, and long remaining lease terms, emphasizing assets in the industrial/distribution asset class. We view the discounted valuation/premium dividend yield, growth opportunity, and strong underlying credit as the primary highlights of the story; however, we anticipate the externally managed structure and above-average leverage profile will remain headwinds in the NT."

For an analyst ratings summary and ratings history on Global Net Lease click here. For more ratings news on Global Net Lease click here.

Shares of Global Net Lease closed at $17.82 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities